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12
Nov

Listen up, here’s the deal

Miner progress Signs of a full recovery from the China mining bans of April and May are now in sight. Looking back, they will likely be seen as a universally good thing for bitcoin. The USA is now the dominant bitcoin miner and along with Kazakhstan and Russia is among the big winners from the China exit.

05
Nov

Billionaire

Zuckaverse The reaction to Facebook’s rebrand to Meta was somewhat surprising. So many people apparently horrified that some digital panopticon might be created in which an evil billionaire megalomaniac controls the world. Where has everyone been? This already happened 10 years ago. Facebook has nearly two billion daily users and three billion per month. That

29
Oct

Safe as houses

You and your houses The bore-athon that is the discussion about house prices continues unabated in the Australian press and at BBQs across the country. Everyone with a house expressing their smug surprise, everyone without their utter despondency. It would be fair to say prices have done well in the last five years, particularly recently.

01
Oct

Bad week gone good

China ban #46 Bitcoin fell sharply on Friday after China announced its latest ban on cryptocurrency. While I am certain they mean business, the issue for China is they have announced a new ban every year since 2013. The headline above is from the first ban that year which caused bitcoin to “plunge more than

24
Sep

We are corrupt; please follow the rules

Gensler We were treated to an interview in the Washington Post this week with SEC head Gary Gensler. He had plenty to say but reserved particular ire for stablecoins, which he likened to poker chips. The driving force behind his intervention was likely the recent Coinbase proposal for a USD stablecoin that would have attracted

17
Sep

Pork on your fork

Doublespeak One of the great examples of political spin was delivered last week by the US Director of the National Economic Council, Brian Deese. Americans are complaining about rising prices, with food inflation well into double figures. Brian was unleashed on the nation to calm nerves and set the record straight. He explained to Americans

10
Sep

Project Dunbar

El Salvador goes live Bitcoin became legal tender in El Salvador on Tuesday. It was not met with universal approval locally and you can understand why, a lot of people struggle with technology, and this really is a quantum leap for some of them. I cannot emphasise enough how important it is for the IMF

20
Aug

Book Week

It’s the future you see Book week this week. Given the amount of airtime being given to virtual worlds and what happens as the world goes increasingly digital, I thought it might be fun to have a look at the best books on this very topic. Read them and make your own mind up (maybe not the

23
Jul

The network grows, the billionaire blows

User Growth If the bitcoin price is continuing to disappoint short term participants, they should perhaps look to user adoption for comfort. In these log charts (from woobull.com) we can see the start of the previous bear markets in 2011, 2014 and 2018. The pattern this time is different. User growth is going absolutely parabolic.

18
Jun

G7

Reminder A gentle reminder from Morgan Stanley about where we stand in the current scheme of things. We could perhaps also include the bond market on this chart as well, but ultimately the global M2 money supply is a reasonable long term target for bitcoin. M2 is a measure of the money supply that includes cash,